SOURCE: Crown Philanthropic Solutions, LLC

June 24, 2008 09:56 ET

Renaissance Selects Crown DonorFirst™ Technology to Provide Leading-Edge Solutions to Charitable Giving Fund

NEW YORK, NY--(Marketwire - June 24, 2008) - Crown Philanthropic Solutions, LLC (www.crownps.com), an innovative provider of technology solutions for the financial services and nonprofit space, is pleased to announce it has been selected to provide the Web-based interface and administrative solution for the Renaissance Charitable Giving Fund (www.rcgf.org), a $160 million donor advised fund sponsored by the Renaissance Charitable Foundation.

This comes on the heels of Crown Philanthropic Solutions' recent introduction of a totally new approach to traditional donor-advised fund (DAF) technology, and one that for the first time empowers donors and sponsors with the expanded functionality and engagement capabilities that donors have been looking for. "We are excited to be selected by Renaissance and consider it a tribute to our corporate vision of enhanced donor engagement that an organization with their experience in the charitable planning space has elected to provide our program to their donors," remarked Crown CEO Ephy Torenberg.

"I believe that our adoption of the Crown DonorFirst™ platform for our donor advised fund program will provide our advisors and donors with the type of leading edge solutions and service they have come to expect from Renaissance," noted Elizabeth Packer Bassett, CEO of Renaissance. "The DonorFirst™ platform offers a highly efficient workflow capability and an integrated Guidestar charity verification for our staff; the online technology our advisors need to guide their clients from financial success to personal significance. The system also supports levels of family collaboration previously available only within private foundation sponsors."

Recognized as the fastest growing charitable instrument in the country today, donor advised funds (DAFs) have historically been limited in their ability to support the levels of family collaboration, donor-grantee communication, and investment flexibility traditionally demanded by the high net-worth audience. Crown Philanthropic Solutions is the first player in the Internet philanthropic space with an approach that can truly help mobilize the vast amounts of social capital that exist within the nation today.

DAFs enable individuals with philanthropic interests to efficiently manage their charitable giving by allowing them to make an irrevocable contribution of a variety of personal assets (cash, appreciated stocks, bonds, mutual funds, and real estate) at the most advantageous time; claim a tax deduction for the gifts, and then direct contributions from their account to the charity or charities of their choice by recommending a grant distribution from the foundation sponsoring their account.

Crown's DonorFirst™ platform provides a true open architecture capability that was designed to serve a wide range of investment options and donor/advisor preferences. "Coupled with a powerful, private, and secure relationship and collaboration environment, Crown has introduced a solution that supports high net worth donors as they move toward a new, broad-based form of philanthropy, enhancing the overall engagement experience for donors and their families, while simultaneously providing a simple, efficient system for managing basic charitable contributions," said William H. Hewitt, Crown Philanthropic Solutions' National Marketing Director. "This evolution from charity to philanthropy is a process that all donors go through as they mature, and as they acquire the kind of wealth which carries with it increased responsibility. The Crown platform not only supports both ends of the continuum, but makes the donors' path smoother and more accessible than ever before."

Renaissance, an independent trust administrator with over $2 billion in assets under administration, has been the leader in expanding the concept of social capital since 1987, and has helped design, draft and administer more than 5,000 planned charitable gifts and has even accepted a roller coaster, boats and cattle as charitable donations during their 20 plus years. The organization has trained and supported thousands of donor advisors to help its clients recognize the existence of social capital, and understand how to best put it to use for society and themselves. "We are excited about the potential the Crown DonorFirst™ platform offers to support the mobilization of philanthropic capital in the United States," continued Bassett.

About Crown Philanthropic Solutions, LLC

Crown Philanthropic Solutions, LLC was established in 2005 for the primary purpose of creating a donor advised fund (DAF) solution that is responsive to the expanding needs of the philanthropic and financial services communities. Crown recognized the pressure on both these groups to respond to demands for increased transparency, functionality, and informational flow in their charitable gifting tools and by leveraging advancements in Web technology Crown has created a bridge between the nonprofit and foundation community, financial organizations and donors. The DonorFirst™ platform supports both a pooled or mutual fund style investment chassis as well as individually managed accounts, and introduces levels of communication and collaboration within each donor's account dashboard that have been unavailable in any existing DAF program. To learn more about Crown Philanthropic Solutions, LLC and their DonorFirst™ Program please visit (www.crownps.com).

Contact Information

  • Media Contact:
    Carol Graumann
    JC Public Relations
    Email Contact
    973-784-0064